STMicroelectronics (STM -6.2%) is hit hard by downgrades to Underperform and Sell from BNP...

|About: STMicroelectronics NV (STM)|By:, SA News Editor

STMicroelectronics (STM -6.2%) is hit hard by downgrades to Underperform and Sell from BNP Paribas and UBS, respectively. The chipmaker is expected to see an 11% revenue decline this year; culprits include weak TV sales, strong European exposure, and ST-Ericsson's woes.